In 2012, the news story broke that at least sixteen major banks in the United States and Great
Britain had for many years falsified data to set a key economic index called LIBOR (London
InterBank Offered Rate). This is a technical index that, roughly, sets interest rates for a wide
range of financial issues, from home mortgages and credit card rates to payments on savings
and investments. A CNBC anchor named Larry Kudlow said the banks’ actions were a
“victimless crime” and he did not understand why prosecutors in both countries were pursuing
legal actions against the banks. A reporter for Rolling Stone named Matt Taibbi challenged him,
pointing out that artificially low rates might help some mortgage holders but would hurt
investments of individual savers as well as investments by cities, states, and pension funds.
What will be an ideal response?
1. Defend Kudlow's claim that the banks committed a victimless crime and should not be
charged with a crime.
2. Defend Taibbi's claim that these actions were not victimless.
3. If you are a business major familiar with LIBOR, research reliable sources beyond these
statements by Kudlow and Taibbi to argue in more detail whether or not you believe this
was a victimless crime.
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A fact about job satisfaction is
a. longevity does not correlate with job satisfaction. b. the U.S. leads the world in the provision of childcare. c. a lack of job satisfaction can create mental health problems. d. worker participation and improved QWL always boost productivity
Answer the following statement(s) true (T) or false (F)
In (A ? (B) • (D ? C), the main logical operator is the "?".
The "spectator's perspective" is
a. the best seat at a sporting event b. an impartial perspective on a moral issue c. the view the majority of people have on a moral issue d. the perspective we have once we have reflected on a moral issue4 Darwinian theory and sentimentalism are a. incompatible theories b. contradictory theories c. contrary theories d. compatible theories
INSTRUCTIONS: The following problems relate to identifying and evaluating inductive and deductive arguments. Select the best answer for each. Given a right triangle with one 30° angle. It follows that the other angle is 55°
A) Inductive, cogent. B) Deductive, valid. C) Inductive, strong. D) Deductive, invalid. E) Inductive, weak